Disclose all assets in your bankruptcy petition. Not only do your risk your losing your bankruptcy discharge but you may be subject to criminal penalties. Bankruptcy fraud is a serious crime, it can result in fines up to $250,000 or imprisonment for up to 20 years, or both.

Even if your spouse does not file bankruptcy with you, you must disclosed ALL community properties. Property acquired by either spouse during the time of marriage is presumed to be community property with the exception of gifts and inheritance. Nondisclosure of community property will also get you into trouble in bankruptcy court.